The central government has proposed a major push to domestic manufacturing of renewable energy equipment in the country that would completely eliminate the need for imports, particularly from countries such as China. As part of the plan, an accelerated manufacturing plan is being operationalised that is incentivising setting up of solar cell manufacturing capacity of […]
Bloomberg Philanthropies and BloombergNEF (BNEF) on Friday released “India’s Clean Power Revolution,” a new white paper detailing how India has become the world’s largest and most competitive clean energy auction market – and a model country for others looking to leverage low-carbon investments in their Covid-19 economic recovery strategy. The report outlines how India’s rapid […]
As Covid-19 hits the fossil fuel industry, a new UN report on Wednesday showed renewable energy is more cost-effective than ever — providing an opportunity to prioritise clean energy in economic recovery packages and bring the world closer to meeting the Paris Climate Agreement goals. The ‘Global Trends in Renewable Energy Investment 2020’ report — […]
Oil majors’ investment in solar and wind energy projects until 2025 are expected to exceed $18 billion says new analysis from Rystad Energy. A closer look at the numbers reveals that some $10 billion, or 55% of the amount, is expected to be invested by a single company, Equinor, the only operator poised to direct […]
Statement by Francesco La Camera, IRENA Director-General In a short few weeks, much of the world has been shut down due to the novel coronavirus, COVID-19, which has crossed borders and oceans, rapidly devastating communities and livelihoods. Decisions being taken now to address the social and economic impacts of the crisis come amid profound uncertainty […]
International Renewable Energy Agency (IRENA) in its new report reveals that the Renewable power is increasingly cheaper than any new electricity capacity based on fossil fuels. Renewable Power Generation Costs in 2019 shows that more than half of the renewable capacity added in 2019 achieved lower power costs than the cheapest new coal plants. The report […]
After a dip this year, new renewable capacity additions are expected to rebound in 2021, but policy certainty is critical to ensure investor confidence The world is set to build fewer wind turbines, solar plants and other installations that produce renewable electricity this year because of the impact of the Covid-19 crisis, marking the first […]
The Mexican government has cited the coronavirus pandemic as a justification for new rules that will reduce the role of renewable energies like solar and wind power, granting a reprieve to the government’s own ageing, fossil-fuel power plants. The decree over the weekend has sparked outrage among Mexican and foreign investors who had been allowed […]
The African Union Commission (AUC) and the International Renewable Energy Agency (IRENA) have agreed to work closely to advance renewable energy across the continent to bolster Africa’s response to Covid-19. The two organisations will focus on innovative solutions to drive the development of renewable energy including decentralised systems, and to increase access to energy across […]
Amid the Covid-19 outbreak and the nationwide lockdown the government has made it clear that it is no mood to slash 175 gigawatt of renewable energy capacity target, which was set for 2022. According to ET -Amitesh Kumar Sinha, joint secretary of the MNRE in a web conference organised by RE consultancy firm Bridge to […]
